The area surrounding the lake includes a primitive 33-site campground and access to the Cranberry Backcountry. The Cranberry River, a popular trout stream, can be accessed via a somewhat-steep two-mile (3 km) hike along Fisherman's Trail. There are several other hiking trails of varying degrees of difficulty in proximity to Summit Lake, including one that circumnavigates the entire body of water. Some of these trails are used for cross-country skiing during winter months.

Low-horsepower motor boats and row boats are permitted on the lake. Swimming is prohibited except during the annual Scenic Mountain Triathlon.